The Bank Of Kentucky, Inc Gives Small Business Loan to Professional, Scientific, And Technical Services Company

SBA loans in Kentucky are tough to come by these days. We take a look at one Kentucky SBA loan, provided by a Kentucky bank, that was approved by the SBA.

Getting a small business loan in Erlanger, Kentucky was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The Bank Of Kentucky, Inc. Here are the details on this Kentucky small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
ERLANGER, KY 41018

SBA Loan Lender

THE BANK OF KENTUCKY, INC
111 LOOKOUT FARM DR
CRESTVIEW HILLS, KY 41017

This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

11/16/2006

Loan Approval Gross Amount

$520,000

Loan Approval from the SBA

Of the total $520,000 loan amount, the SBA guaranteed $390,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Business Line of Credit

SBA Approved Banks in Crestview Hills, Kentucky

Getting a Business Loan in Kentucky